Good morning.

Two stories to set you up for the day.

🇧🇷 Brazil Court to Try Bolsonaro

Brazil's Supreme Court unanimously ordered former President Jair Bolsonaro to stand trial on charges of attempting a coup d'état after his 2022 election loss. Bolsonaro faces five criminal charges including allegedly attempting to violently abolish democratic rule of law, with Justice Alexandre de Moraes citing the former president's "systematic effort to cast doubt on electronic voting machines." If convicted in proceedings expected later this year, Bolsonaro could receive a lengthy prison sentence, further complicating his declared intention to run for president again despite being barred from public office until 2030.

More - Al Jazeera

🚗 Trump Auto Tariffs

President Trump signed a proclamation implementing a 25% tariff on imported automobiles and key components effective April 2, expanding his trade war aimed at bringing manufacturing jobs back to the US. The tariffs will apply to non-US content in vehicles, with importers under the USMCA agreement able to certify US content for partial exemptions. While UAW President Shawn Fain applauded the move, industry groups warned the tariffs would increase prices and reduce consumer options, with analysts estimating vehicles could cost thousands more. Canadian Prime Minister Mark Carney called the tariffs a "direct attack" on auto workers and promised retaliation.

More - Bloomberg

Asia Stability Ratings and News Summary

More Unstable

🇦🇫 Afghanistan, 🇦🇲 Armenia, 🇦🇿 Azerbaijan, 🇧🇩 Bangladesh, 🇧🇹 Bhutan, 🇨🇳 China, 🇬🇪 Georgia, 🇮🇳 India, 🇮🇩 Indonesia, 🇰🇿 Kazakhstan, 🇱🇦 Laos, 🇲🇾 Malaysia, 🇲🇻 Maldives, 🇲🇳 Mongolia, 🇲🇲 Myanmar, 🇳🇵 Nepal, 🇰🇵 North Korea, 🇵🇰 Pakistan, 🇵🇭 Philippines, 🇸🇬 Singapore, 🇰🇷 South Korea, 🇱🇰 Sri Lanka, 🇹🇼 Taiwan, 🇹🇯 Tajikistan, 🇹🇭 Thailand, 🇹🇲 Turkmenistan

More Stable

No countries were more stable over this period

Unchanged

🇧🇳 Brunei, 🇰🇭 Cambodia, 🇹🇱 East Timor, 🇯🇵 Japan, 🇰🇬 Kyrgyzstan, 🇺🇿 Uzbekistan, 🇻🇳 Vietnam

Asia News Summary

In Singapore, Prime Minister Lawrence Wong has highlighted the resilience of the economy amid global cost pressures, announcing government support measures to alleviate the burden on citizens. However, the luxury car market has taken a hit following a money-laundering scandal, leading to a notable decline in sales. To stimulate economic growth, the National Payments Corporation of India (NPCI) has partnered with HitPay to facilitate UPI payments at over 12,000 merchants in Singapore, enhancing the digital payment landscape [SOURCE - Channel News Asia].

In the realm of aviation, Singapore Airlines has resumed flights to Heathrow after disruptions caused by a power outage, marking a return to normalcy for travelers [SOURCE - Channel News Asia]. Meanwhile, Malaysia Aviation Group has expanded its fleet with the acquisition of 30 new Boeing 737 aircraft, signaling growth in the aviation sector [SOURCE - Malay Mail].

In the political arena, Singapore's People's Action Party is preparing for the upcoming general election by integrating Joo Chiat into the East Coast Group Representation Constituency (GRC), a move aimed at consolidating support [SOURCE - Channel News Asia].

Turning to international relations, China's trade dynamics are under scrutiny as Canada braces for a potential 100% tariff on canola exports, following a ban on imports of Canadian canola seed [SOURCE - CBC News]. In a bid to strengthen ties, Japan and China have engaged in high-level economic talks, with Japan's Foreign Minister emphasizing the importance of a "future-oriented" relationship [SOURCE - Kyodo News].

Vietnam is also making strides in its economic landscape, allowing 49% foreign ownership of some domestic banks, a move expected to attract foreign investment and enhance competition in the banking sector [SOURCE - Bangkok Post]. Additionally, Vietnamese billionaire Pham Nhat Vuong's Vingroup has proposed a $4 billion metro line project for Ho Chi Minh City, aimed at improving transportation infrastructure [SOURCE - VnExpress].

In Myanmar, the political and humanitarian crisis continues to deepen, with reports of violence against civilians and a recent airstrike on a clinic resulting in multiple casualties [SOURCE - The Hindu]. The UN is seeking nearly $1 billion in aid to support Rohingya refugees in Bangladesh, highlighting the ongoing humanitarian challenges in the region [SOURCE - The Daily Star].

In South Korea, tensions with North Korea remain high as joint military drills with the United States continue amid threats from the North regarding its missile capabilities [SOURCE - Yonhap News Agency]. The South Korean government is also grappling with domestic challenges, including wildfires and economic concerns as the stock market shows signs of slowing down [SOURCE - Japan Today].

Oceania Stability Ratings and News Summary

More Unstable

🇫🇯 Fiji, 🇰🇮 Kiribati, 🇳🇷 Nauru, 🇳🇿 New Zealand, 🇵🇬 Papua New Guinea, 🇼🇸 Samoa, 🇸🇧 Solomon Islands, 🇹🇴 Tonga, 🇻🇺 Vanuatu

More Stable

No countries were more stable over this period

Unchanged

🇦🇺 Australia, 🇫🇲 Federated States of Micronesia, 🇲🇭 Marshall Islands, 🇵🇼 Palau, 🇹🇻 Tuvalu

Oceania News Summary

In recent developments across Oceania, Australia is making significant strides in both economic and defense sectors. The Australian government has allocated over $500 million to a green hydrogen project, signaling a commitment to sustainable energy initiatives. Concurrently, it is proposing new regulations for cryptocurrency exchanges, custody services, and brokerage firms, aiming to enhance oversight in the rapidly evolving digital currency landscape [SOURCE - Financial Post].

Amidst these economic advancements, Australia's Treasurer has issued a warning about a potential 'seismic' global economic shock stemming from the United States, highlighting the interconnectedness of global markets [SOURCE - Financial Post]. In response to these uncertainties, Australia is accelerating $1 billion in defense spending, which includes investments in AUKUS submarine bases and frigates, reinforcing its military capabilities in the Asia-Pacific region [SOURCE - gCaptain].

On the international stage, Australia has reaffirmed its support for Ukraine during high-level defense talks in London, while also strengthening defense cooperation with Indonesia [SOURCE - ABC News]. These moves reflect Australia's strategic positioning in a volatile geopolitical landscape.

In New Zealand, the economy is also showing signs of resilience. A partnership between Air India and Air New Zealand aims to enhance connectivity and trade opportunities between the two nations, which is expected to bolster economic ties [SOURCE - The Hindu BusinessLine]. Additionally, New Zealand's wine industry has marked its 16th consecutive year of sales growth in the U.S. market, underscoring the country's successful export strategies [SOURCE - Radio New Zealand].

However, New Zealand's government faces criticism regarding its climate targets, with an anti-cartel probe into banks accused of limiting lending to green projects [SOURCE - LiveMint]. Public confidence in the government has reportedly plummeted, raising concerns about its ability to effectively address pressing issues [SOURCE - The Daily Blog].

In the Pacific Islands, Kiribati and the Federated States of Micronesia have both been recognized as semifinalists in NASA's Power to Explore Challenge, which seeks innovative solutions for renewable energy in remote communities. Kiribati's participation aligns with its goal of reducing dependence on fossil fuels, while the FSM's focus on solar energy could serve as a model for other Pacific nations [SOURCE - NASA].

Meanwhile, Fiji's political landscape is tumultuous, with Prime Minister Sitiveni Rabuka facing criticism over his leadership. Some political figures have labeled him "unfit to lead," while others argue for his support, emphasizing the need for stable governance in the country [SOURCE - Scoop].

Carpe tomorrow!